What are the main assumptions of the Ricardian model?
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The main assumptions of the Ricardian model are that goods are produced competitively using a single factor of production, labor, with constant-returns-to-scale technologies that vary across countries and goods . The model assumes that countries have comparative advantage in producing certain goods based on their absolute advantage in production . It also assumes perfect mobility of factors of production, meaning that factors can move freely between industries within a country . The model further assumes that there are only two goods and two countries, although it can be extended to include more goods or more countries, but not both simultaneously . Extensions to the model have been made to include a continuum of goods with multiple countries and random technologies .
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26 Feb 2020 1 Citations | The paper does not explicitly mention the main assumptions of the Ricardian model. |
| The paper does not provide information about the main assumptions of the Ricardian model. | |
| The main assumptions of the Ricardian model are: goods are produced competitively using labor as the only factor of production, constant-returns-to-scale technologies are used, and countries have different technologies and comparative advantages. | |
Open access•Posted Content 1 Citations | The paper does not explicitly mention the main assumptions of the Ricardian model. |
| The main assumptions of the Ricardian model are perfect mobility of factors of production and perfect competition. |
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